Usman Salis
The EUR/USD is experiencing significant selling pressure as the pair struggles to maintain its footing above critical technical levels. Recent price action has painted a concerning picture for euro bulls, with multiple rejection attempts at resistance confirming that bears are firmly in control of the narrative.
Bears Take Command as EUR/USD Breaks Lower
EUR/USD has delivered a textbook bearish setup after multiple failed attempts to break through the 1.1649 resistance zone. Trading insights from @UsmanUsman___ highlight how the pair has triggered continuation signals across multiple timeframes, with the 30-minute and 4-hour charts both flashing red.
The breakdown below 1.1637 has opened the door for further weakness, with current price action testing the 1.1616 handle as sellers press their advantage.
The technical picture shows a clear shift in momentum, with each bounce attempt meeting fresh selling interest. This type of price behavior typically signals that institutional players are positioning for extended weakness, making any recovery attempts increasingly difficult to sustain.
Critical 1.1580 Level Now in Focus
All eyes are now on the 1.1580 support level, which represents the next major line in the sand for EUR/USD bulls. This zone coincides with the ERL (Expected Range Low) area, making it a natural target for profit-taking among short sellers. However, a decisive break below this threshold could trigger an acceleration toward 1.1550, potentially setting up a more substantial correction in the coming weeks.
For any meaningful reversal to take place, bulls would need to engineer a swift recovery above 1.1649, followed by a push beyond 1.1680 to neutralize the current bearish momentum. Until such a scenario unfolds, the path of least resistance appears firmly pointed to the downside, with each rally likely to be viewed as a selling opportunity rather than a genuine recovery attempt.
Usman Salis
